South Korean Court Acquits Former Wemade CEO in Wemix Case
According to ChainCatcher, citing a report from Cointelegraph, the Seoul Southern District Court ruled on Tuesday that former Wemade CEO Jang Hyun-guk was not guilty of manipulating the circulation of WEMIX tokens.
Prosecutors had accused him of concealing the continued sale of over $200 million worth of tokens in 2022, but the court found insufficient evidence of intentional market manipulation. Following the news, WEMIX saw a short-term surge, but it remains down about 97% from its 2021 peak.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitwise Dogecoin ETF BWOW may be listed on NYSE Arca as early as Wednesday
The US Dollar Index (DXY) fell more than 0.5% intraday and is now at 99.7.
Bitget Wallet launches crypto asset "bank transfer" feature, now available in Nigeria and Mexico
Trending news
MoreCrypto prices
More
